Find Can Reportedly Supply World for 3,000 Years
San Francisco, CA -- (SBWIRE) -- 10/17/2012 -- Scientists estimate there are “trillions of carats” of diamonds beneath a 35-million-year-old asteroid crater in Siberia - enough to keep the world in supply for 3,000 years. If they are right, that is 10 times the current global inventory.
While the discovery is news to most of the world, it has been known to the Kremlin since the 1970s.
The Russian government kept the reserves’ existence under the 62-mile-wide impact zone a secret. It did so because it had already been experiencing generous profits in what was, at the time, a tightly controlled diamond market, by manufacturing artificial diamonds.
Last weekend, government officials granted scientists from the Novosibirsk Institute of Geology and Mineralogy permission to reveal the crater’s hidden diamonds. Journalists were on hand for the unveiling.
According to Russian news agency ITAR-Tass, the diamonds at the site, which the Russians refer to as Popigai Astroblem, are “twice as hard” as the average diamonds, making them highly useful to industrialists and scientists.
According to The Christian Science Monitor, the institute's director, Nikolai Pokhilenko, told the agency that the new source would radically change the precious gem market.
“The resources of super-hard diamonds contained in rocks of the Popigai crypto-explosion structure are by a factor of 10 bigger than the world's all known reserves,” he said. “We are speaking about trillions of carats. By comparison, present-day known reserves in Yakutia (a Russian mine) are estimated at one billion carats.”
The Popigai stones are known as “impact diamonds,” which occur when a large object, such as a meteor, collides with a diamond deposit at a high enough velocity.
Experts predict there will be high demand for the unique Russian diamonds.
Pokhilenko said: “The value of impact diamonds is added by their unusual abrasive features and large grain size. This expands significantly the scope of their industrial use and makes them more valuable for industrial purposes.”
NueDiamonds.com (http://www.nuediamonds.com/) creates diamond alternatives using innovation, style and the GIA's strict standards of diamond cutting and grading. Before Nue Diamonds, few people could afford one carat or more in their engagement ring purchase. Nue Diamonds set out to change this by making luxury jewelry affordable for all. This forward-thinking philosophy has changed the face of the diamond industry by creating the perfect marriage between flawless lab created gemstones with high-end platinum, palladium and gold settings.
Copyright © 2005-2013 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-593-5640 (International)